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TDS Certificate

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 May 2010 As per the provisions of IT Act, TDS Certificate (Form 16) should be issued to each employee “within one month from the close of the financial year in which such deduction was made”.

Pls tell me what colud be the consequences in case the employer fails to issue Form 16 within the said period.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 May 2010 Penalty can be levied under section 272A (2)(g) at the rate of Rs.100/- per day during which the failure continues.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 May 2010 Thank You So Much.
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